Accounts theory Year 10

4. Drawn up to check the arithmetical accuracy of the double entry
6. All cash and cheque transactions are recoded in this part of the division of the ledger
8. Document used for making entries in the Sales Journal
12. These are listed according to liquidity in the Statement of Financial position
13. Carried out at the end of the financial year to calculate the value of inventory still in stock
15. A person from whom the business buys goods for resale
16. An error where a transaction is completely omitted from the books
18. An amount of money or assets invested in the business by the owner
19. A document sent to customer showing allowance given by supplier in respect of unsatisfactory goods
20. A person to whom our business owes an amount of money

1. Type of purchases included in the Purchases Journal
2. A sum of money(often fixed) held by the petty cashier
3. What results when the business has paid more out of its bank account then it had paid into it
5. A tax charged on the supply of most goods and services
7. When an expense that has been incurred but not yet paid
9. Capital is equal to Assets minus Liabilities
10. Used for recording small items of expenditure
11. Calculated when Sales Returns are subtracted from Sales
14. It is included in the cost of sales calculation because it is associated with the purchase of goods
17. These accounts have Balances brought down on the credit and are listed in the Statement of Financial Position